LINDBLAD EXPEDITIONS HOLDINGS, INC. — Form 8-K
Filed August 3, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
Lindblad Expeditions reported Q2 2026 tour revenues of $199.2M (+19% YoY), driven by Lindblad segment revenue of $129.2M (+16%) and Land Experiences of $70.0M (+23%). Net loss improved to $1.4M ($0.02/share) from $9.7M ($0.18/share) YoY. Adjusted EBITDA increased 31% to $32.5M. Key metrics: Lindblad occupancy reached 91% (vs. 86% prior year), net yield per available guest night rose 4% to $1,294, and capacity increased 12%. Full-year 2026 guidance: tour revenues $830-860M, Adjusted EBITDA $130-140M. Cash and restricted cash reached $364.9M; total debt $675.0M.
Why this rating
Strong operational metrics and margin expansion indicate core business momentum, but guidance range is conservative relative to market cap; debt load remains elevated at ~2x EBITDA.
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